Shelf Drilling (North Sea), Ltd. has secured a contract extension for the Shelf Drilling Barsk jack-up rig with Equinor for operations at the Gudrun field located in the Norwegian Continental Shelf. The firm term of the extension is two wells with an estimated duration of 254 days in total. The contract extension also includes options for three wells at Gudrun.

With reference to the press release on April 28, 2023, the Shelf Drilling Barsk rig is scheduled to commence operations with Equinor at the Sleipner Vest field in May 2024 with an initial scope of two wells and an estimated duration of 270 days, with options for two wells. In conjunction with today?s extension, Equinor has also exercised the first option well at Sleipner Vest with an estimated minimum duration of 83 days. The contract value of the additional firm period excluding certain integrated services is approximately USD 81 million.